Shares of the company which is taking former President Donald Trump’s social media platform public rose nearly 20 percent on Thursday after a listing on Apple’s app store showed an expected start date of Feb. 21—the U.S. Presidents’ Day holiday. Trump Media and Technology Group and Digital World Acquisition Corp., a Special Purpose Acquisition Vehicle (SPAC), announced in October that they would merge to create a social media app called TRUTH Social. SPACs use money raised through an initial public offering to take a private company public. At the time the merger was announced, Trump’s company said it planned a full roll-out in the first quarter of 2022. A December Securities and Exchange Commission (SEC) filing shows that Digital World Acquisition has received “certain preliminary, fact-finding inquiries” from the Financial Industry Regulatory Authority (FINRA) associated with stock trades around the time of the merger agreement. Digital World Acquisition said it is cooperating. Promoted as an alternative to Twitter, Truth …
Stocks of Trump SPAC Digital World Acquisition Corp Soar After Social Media App Set to Launch Feb. 21
January 7, 2022
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Big Tech, Censorship, and SocialismBusiness & EconomyCompaniesDonald TrumpFeatured TopicsMedia & Big TechSocial MediaTrumpTruth SocialUSUS News
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